ADFA administers funding in the form of
tax exempt bonds and other debt instruments through its series of program activities.
These activities are divided into three main categories: Economic Development,
Homeownership, and Affordable Rental Housing. Each of these three categories resides over
several specialized programs for funding disbursement. For more information on these
specific programs and a listing of program administrator contact information, please
consult the Program Activities section of this site.

To ask
questions or if you need more information, please contact ADFA's Communications Director,
Derrick Rose, at 501-682-5904 or drose@adfa.state.ar.us

MISSION STATEMENT: TO PROVIDE CAPITAL
FOR QUALIFIED ACTIVITIES THAT ENHANCE THE QUALITY OF LIFE FOR ARKANSANS

History

Between 1977 and 1985, the Arkansas
Housing Development Agency successfully supplemented the housing finance market by
providing funds at below market interest rates. Its main goal was to develop safe, decent
and affordable housing for low and moderate income Arkansans. Fortunately, the legislators
realized that an agency empowered to issue tax-exempt bonds and other debt instruments
could have an even greater impact on the lives of Arkansans by focusing not only on
affordable housing but also in areas of manufacturing, health care, export finance,
infrastructure projects, small business, and education.
The Arkansas Development Finance Authority (ADFA) was created by Act 1062 of 1985, the
Arkansas Development Finance Authority Act. This act abolished the former Arkansas Housing
Development Agency and transferred all records, funds, property, obligations, debts,
functions, powers and duties to ADFA. A Board of Directors governs ADFA and is composed of
the State Treasurer, Director of the Department of Finance and Administration and eleven
public members whom the governor appoints. The president of ADFA is an ex-officio
non-voting member of the Board. ADFA employs a permanent full-time staff of professionals
who, together, provide expertise in all areas of banking, finance, mortgage lending and
accounting.